Publication

This paper explores the question of how the Greek population could still keep the euro if the country were to default on its debt as well as the implications of this happening. The author argues that contrary to general belief, an exit of Greece from the eurozone and the reintroduction of the euro as a foreign currency would probably be positive for the Greek economy, though the country's creditors would be hard hit. He then suggests that it is therefore primarily in the in interests of Greece's creditors for Athens to avoid a default and an exit from the eurozone.